Lang Son: destination of success for investors

(LSO) – In recent years, many big investors have been successful in Lang Son with large-scale projects, benefiting both sides, proving the province’s motto of “profit for businesses – development for Lang Son”.

One of the pioneering investors in Lang Son is VinGroup with the Vincom Shophouse project that was implemented in 2016. The 800 billion VND project includes a complex of trade centre, hotels and houses with a total ground area of over 12,000 sq.m on the bank of Ky Cung river in Lang Son city.

In mid-2018, the project was completed and became operational as scheduled. The houses were sold out in a short time, while the trade centre draws about 1,000 shoppers per day.

Following VinGroup, in early 2017, Deo Ca Group also invested in a BOT project to construct Bac Giang-Lang Son highway at a cost of 12 trillion VND (first component of the project). With the accompaniment of the local administration and the determination of the investor, the project was launched as planned and the Bac Giang-Lang Son was technically opened on September 29.

Lang Son delegation witnesses the signing of a memorandum of understanding on cooperation between Phuc Khang company and Guangxi Beibu Gulf Investment Group Co.,Ltd from China’s Guangxi province.

Nguyen Quang Vinh, General Director of the BOT Bac Giang-Lang Son company, said that currently, the firm is finalizing the first phase of the project so that it will become operational from January 1, 2020.

The company has allocated 500 billion VND on ground clearance and designing the second component project to construct the 43km section of the highway from Chi Lang to HuuNghi International Border Gate, he added.

Statistics from the provincial Department of Planning and Investment show that in the 2014-2018 period, the province approved and issued investment licences to 127 domestically-invested projects with a combined capital of nearly 30 trillion VND. Since 2018, the province has granted the licences to 64 projects worth nearly 42 trillion VND, of which 28 are valid FDI projects valued at nearly 235 million USD.

Most recently, in early 2019, real estate developer Apec Group launched its Apec Diamond Park project on an area of over 55,000 sq.m in Lang Son city. Sun Group has planned to implement the Mau Son eco-tourism and cable-car network at a cost of 3.5 trillion VND. Many other firms have also registered to invest in transshipment and export processing areas as well as agro-forestry projects in the locality.

Sungroup representative signs investment registration in Lang Son.

Not only for domestic firms such as Hoa Phat, Hoang Anh Gia Lai, FLC and TMS, Lang Son has now become attractive to foreign investors, including a China firm, the Guangxi Beibu Gulf Investment Group Co.,Ltd, with registered capital of 40 trillion VND.

Nguyen Huu Chien, Director of the provincial Department of Planning and Investment, said that with its advantages, Lang Son has become a magnet for investors. However, in order to develop sustainably, the department will advise the province’s authorities to build a strategy on investment attraction for specific areas and sectors in different periods.

Accordingly, from now to 2025, the province will select a list of 37 priority projects with a total capital needed of about 45 trillion VND, focusing on industrial-transport-urban infrastructure; trade-service, and agriculture-rural development.

Affirming its determination in luring investment, on September 30, Lang Son held its first Investment Promotion Conference, giving a chance for investors to get better understanding on the potential, advantages and preferential policies of Lang Son.

This is also a chance for domestic and foreign firms to meet and seek partnership opportunities, while accessing the list of projects that the province is calling for investment, thus building a suitable business strategy and contributing to Lang Son’s integration and development.